ShiftPixy Stock Is Skyrocketing: What's Going On?
Portfolio Pulse from Adam Eckert
Shares of human capital management platform company ShiftPixy Inc (NASDAQ:PIXY) are surging in after-hours trading following the announcement of the effective date for its reverse stock split. The one-for-twenty-four reverse split will take effect on Sept. 30 and begin trading on the Nasdaq on Oct. 2. The stock was down nearly 98% year-to-date and more than 30% in the last month as of Tuesday's close.
September 26, 2023 | 8:46 pm
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ShiftPixy's announcement of a reverse stock split has led to a surge in its stock price in after-hours trading. The stock was previously down nearly 98% year-to-date.
The announcement of a reverse stock split is a significant event for a company. It is often used as a strategy to boost the stock price, which seems to be working for ShiftPixy as its stock price surged in after-hours trading. However, it's important to note that the stock was down nearly 98% year-to-date, indicating that the company has been struggling.
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